TEAM REPORTS RESULTS OF OPERATIONS FOR THE FIRST QUARTER OF FISCAL
1993

HOUSTON, Oct. 9 /PRNewswire/ -- Team, Inc. (AMEX: TMI) today announced operating results for its first quarter ended Aug. 31, 1992. Revenues for the quarter were $18,422,000 compared to restated revenues of $17,288,000 for the first quarter of the prior year. Net earnings were $375,000 or $.07 per share fully diluted, up from a net loss of $.03 per share in the fourth quarter of fiscal 1992. In the first quarter of the prior year net earnings were $344,000 or $.07 per share fully diluted, consisting of net earnings from continuing operations of $841,000 or $.17 per share and a net loss from discontinued operations of $497,000 or $.10 per share.
"Even though we remain in the midst of a recession, we were still able to improve on the company's market share, as reflected in the revenue increases over the same period last year in both our Environmental Services and our Transportation Services segments," explained H. Wesley Hall, president and chairman of the board. "However, while earnings have improved over the previous quarter, they remain lower than the first quarter of last year primarily due to pricing pressures from our competitors as our customers continue to delay maintenance expenditures. We will continue to operate as efficiently as possible, while these recessionary forces remain, in order to take advantage of the economic rebound when it occurs."
Team, Inc. is a national service company providing environmental consulting, engineering, monitoring and repair services to America's industrial and governmental entities. Headquartered in Houston, the company has 51 operating locations in 23 states and one international operating location in England. The company also serves the international market through licensee arrangements in 13 countries, including England.
TEAM, INC.
Summary of Operating Results
Three Months Ended
August 31,
1992 1991
Revenues $18,422,000 $17,288,000
Pre-tax earnings from
continuing operations $ 688,000 $ 1,276,000
Net earnings from continuing
operations $ 375,000 $ 841,000
Net loss from discontinued
operations 0 (497,000)
Net earnings $ 375,000 $ 344,000
Earnings per share:
Primary:
Net earnings from
continuing operations $ .07 $ .17
Net loss from
discontinued operations .00 (.10)
Net earnings $ .07 $ .07
Weighted average shares 5,154,000 4,849,000
Fully diluted:
Net earnings from
continuing operations $ .07 $ .17
Net loss from
discontinued operations .00 (.10)
Net earnings $ .07 $ .07
Weighted average shares 5,158,000 4,849,000
-0- 10/9/92
/CONTACT: Russell G. Donham of Team, Inc., 713-659-3600/
(TMI) CO: Team, Inc. ST: Texas IN: SU: ERN

AH -- NY029 -- 8305 10/09/92 11:13 EDT

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